Chapter 1 Flashcards

Question

Tribunals and alternative dispute solutions

Answer 1

Part do not always have to take their civil dispute of courts two possible alternatives are to go to the tribunal or an ADR process

Answer 2

Alternative place to have a silver dispute, her usually employment law matter Less formality than going to court Decision is binding on those included in the case but not future cases but will be taken into consideration

Answer 3

A process where parties with a dispute use any type of procedure or combination of procedures to resolve their differences rather than going to court These can include arbitration mediation and conciliation

Answer 4

The dispute is settled by an independent person chosen by the parties, usually lawyers They acted a similar way to judges Parties was agreed to submit the process. This agreement is usually an arbitration agreement which was created at the beginning of the relationship in the initial contract terms. This means there is a contract govern in the arbitration process which is subject to contract laws. Arbitration agreement sets at the process involved as well as the rights and obligations of the parties

Answer 5

Like arbitration involves an independent third-party in helping the parties to resolve their dispute In these cases the third-party does not act like a judge instead they want to assist the parties and coming up with their own solution to the issue

Answer 6

As you choose, the person you can gain the service of an expert in the field they’re in Cheaper than going to court ADR proceedings are held in private Can tailor the needs of party (changing way they behave, obtaining a promise that a party will not do something, obtaining an apology, obtaining an explanation, compensation) Quicker going to court

Answer 7

The decision of an expert lacks the legal authority of a decision made by a judge meaning the disagreement could go to court Could run for a long time and end up in court anyways Not legally enforceable meaning successful on the willingness of the parties if not voluntarily accepted the parties will need to pursue litigation

Answer 8

-European convention on human rights Human rights act 1998

Answer 9

Following World War II, the convention was created to prevent human rights abuse that occurred in the conflict. It’s set out rights and freedoms then a human should have which the UK stand up to 16 of them.

Answer 10

Federal Liberty Equality and freedom fromdiscrimination Right to family life Privacy Property Life Free elections

Answer 11

Slavery and human trafficking Speech Torture and ill treatment Religion and belief Freedom of assembly Violence against women

Answer 12

Embed the ECHR into UK law. Means human rights cases can be heard in UK courts and it provides that all public bodies such as schools and hospitals must respect an individuals convention rights. The act also impacts new legislation legislation is interpreted and applied in the court Or common/case law must be interrupted in a way that is compatible with the convention Means UK case law is overruled when it conflicts with the convention however only in exceptional circumstances

Answer 13

Must make a statement of compatibility of the new legislation with the convention early in the legislative process If it is incompatible with the convention statement to that effect can be made shared the government wish to continue with the proposed legis Courts may strike out/council secondary legislation that violates the human rights act

Answer 14

Existing legislation must be interpreted in a way that is compatible with the convention courts must take into account decisions and judgement of ECHR If it can be adopted in the way that is compatible or a way that is compatible the courts must follow the interpretation that is compatible

Answer 15

Paul is gonna agree in advance which laws will apply if trading overseas International laws - parties can choose to adapt international rule developed by United Nations and ICC (International Chamber of Commerce)

Answer 16

Facilitate international trade Is a source of contract law parties in different countries can choose to apply in their deals

Answer 17

United Nations Convention on contracts for international sale of goods

Answer 18

Sale of goods between parties in contracting states Sale of goods between parties who refer to CISG in the contract

Answer 19

Sale of labour service Sale of goods where the buyer provides most of the materials for the good Sale of goods for personal use Sale of goods via auction Sale of restricted goods

Answer 20

Aircraft, electricity and investments

Answer 21

To pay the price for the goods and comply with any formalities to enable payments to be made

Answer 22

To deliver the goods to the place and at the time agreed in the contract To deliver the goods of a quantity quality and description set out in the contract and to package them in the agreed manner If the contract doesn’t set out the quantity quality and packaging requirements to follow the conformity requirements set out in the convention If either the party fails to meet their obligations, the other party can claim damage damages for loss suffered

Answer 23

The convention determines when part risk passes from one party to the other. This is essential in practice so the parties can buy appropriate Carriage of good included in the contract risk passes at the time specified in the contract or if not specified when the goods are passed to the first carrier Carriage of goods not included the contract risk passes where the buyer takes over the goods or where the seller puts them at the buyers disposal Good sold in transit risk passes where the contract is made regardless of where the goods are

Answer 24

The standard terms used to form international contracts to promote uniformity there are 11 standard terms

Answer 25

EX works - goods available at sellers place of business

Answer 26

Free carrier - sellers clear the goods for export and delivers to a named carrier

Answer 27

Carriage and insurance paid to- sellers pays for carriage clears the goods for export and insures the goods

Answer 28

Carriage paid to- seller pays for the carriage and is responsible for clearing the goods for export risk passes to buyer wants good arrive at the named destination

Answer 29

Delivered at place- seller bears all the risk in delivering the goods ready to be uploaded at a named place

Answer 30

Delivered at a place unloaded- sell bears all the risk delivering and unloading goods at a named terminal

Answer 31

Delivery duty paid- seller as all costs and risk from clearing goods for export delivering and clearing of all goods for import at a name destination. In fact, the seller must discharge all of the delivery and customs responsibilities.

Answer 32

FAS FOB CFR CIF

Answer 33

Free alongside ship ( seller delivers the goods to the ship and bears the export charge)

Answer 34

Free on board- seller has delivered the goods when they are delivered for export and pass the ships rail at the named port

Answer 35

Cost and freight - seller pays for delivery however the risk transfers to the buyer once the goods are loaded onto the ship the buyer must’ve arrange own insurance

Answer 36

Cost insurance freight - seller pays for delivery of goods and must ensure them though only at the most basic level of cover during transit

Answer 37

EXW FCA CIP CPT DAP DPU DDP

Answer 38

Governed by sharia law Sharia law is law bound with the religion of Islam Sharia law has been adopted by some countries Concept of riba

Answer 39

Concepts of making an unlawful gain in sharia For example, charging or gaining interest is illegal and buying using a loan is illegal

Answer 40

Bank will buy the asset, then sell the asset to buyer at a profit and the buyer is required to pay back overtime The bank will own the asset until final payment is made

Answer 41

Bank deposits are viewed as an investment made which is managed by the bank. When the money is returned, it is returned with the profit from the investment minus a management fee.

Answer 42

Describes a world of thriving economic and just society based on what nature can afford must consider both the impacts and dependencies of an organisation

Answer 43

Environmental and social governance Looks at sustainability through a corporate lens ESG considers the impact of these risks on businesses and enterprise values

Answer 44

Environmental act 2021 Companies act 2006

Answer 45

EQuality act 2010 Employment right act 1996 National minimum wage act 1998 Bribery act 2010 Proceeds of crime 2002 money laundering regulations 2017

Answer 46

Data protection 2018

Answer 47

How are the actions of an organisation makes either positively or negatively affect environmental society and government issues? For example, workers rides, human rights, health and safety policies, waste greenhouse gas emissions, water usage, land usage and biodiversity

Answer 48

How the current and future ESG issues affect the organisations ability to create and maintain value For example, worker health workplace diversity, climate conditions, resource availability, regulation and consumer expectations

Chapter 1 Flashcards

(74 cards)